In the US, auction volume in the United States grew only slightly vs. Q4, but demand buying demand was firm, driving prices up 16% overall.

Brazil, the UK and Japan all leapfrogged ahead of Japan to become the world's number two, three and four markets, respectively. Italy and Spain were the fastest growing markets in Q1.

In the Q1 Spotlight, Accordant Media studied multi-touch attribution models. Results indicate that last-touch attribution models may understate the contribution of mid-funnel and upper-funnel marketing tactics by as much as 64%.

"The programmatic media industry came roaring out of the gate to start 2014 with buyers utilizing a broad suite of tactics across RTB and premium programmatic inventory sources," says Art Muldoon, Co-founder and CEO. "The market is seeing upward pressure on prices and there is greater attention to buying quality, transparent inventory to protect advertisers."